After briefly crossing above its previous high of 13278 Dow fell back below it. As analysed earlier, Dow recorded a high of 13306 and fell back below its previous high. Now the breakout should be considered as fake break out and will have target of 13000, 12800.
How ever a sustained break above 13280 will have targets of 13400, 13500 and 13700.
In our earlier post we expected Dow to retrace from 13250-13300 area, Dow did high of 13306. Hence we are in short on Dow from 13300. The SL for this trade is placed just above today's high at 13310.
How ever a sustained break above 13280 will have targets of 13400, 13500 and 13700.
In our earlier post we expected Dow to retrace from 13250-13300 area, Dow did high of 13306. Hence we are in short on Dow from 13300. The SL for this trade is placed just above today's high at 13310.
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